I can't see a simultaneous expansion to both Canada and Mexico, although I like your appetite for growth!
The similarities with the Canadian market (Commonwealth country) and the higher dollar value that can be generated in revenue surely makes it the highest priority. We would be more likely to have existing customers that have operations in Canada over Mexico as well, which is how they launched into NZ.
Mexico can occur in time following Canadian success, but I would prefer to see a UK expansion in there somewhere as well, to commence the European push, but that might be 3 years away.
I agree on your expansion steps above, for me, the key going into Canada will be 2 captures at appropriate times for weather conditions. I expect it to happen this FY, just whether it is August/November flights or March / June to get the conditions right.
NEA Price at posting:
$1.44 Sentiment: Buy Disclosure: Held